Crude Jumped Despite Rise in Inventory. Risk Appetite Improved

WTI crude oil price rose for the first time in 4 days, jumping +4% despite the buildup of US inventory, as US dollar weakened on improved risk appetite. The front-month contract has been hovering around the US$45 level, following a sharp selloff in mid-August and a rebound thereafter. The Brent crude contract rebounded +2.75%, ending the day at 48.89.

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Crude Jumped Despite Rise in Inventory. Risk Appetite Improved